I have three great 2003 cars (Lincoln Aviator, Mercedes E320 and Audi A6 TT), each with 100,000 miles so I am concerned about their age, but they drive very well with very little maintenance and I feel like I could drive them for 5 more years, or more. Should I be concerned about the value curve, because are used cars dropping in value rapidly now that the auto industry is so doing poorly? Is this a good time or bad time to trade them in? Maybe trade-in values are awful now in this economy. What are your thoughts? (5 drivers in my family)
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Accessories April 10th 2011
April 10th, 2011 at 2:20 pm
Those are all reliable vehicles and with proper maintenance should last much longer. trade in values are like you said …. in the toilet right now.
April 10th, 2011 at 3:01 pm
I own a Limousine service and all of our cars currently have over 100,000 miles. Once a car has gone beyond 100,000 miles you’re not going to get anywhere close to what you think it’s worth. If the cars are paid off and they are running well, my suggestion would be to keep them until the wheels fall off. You’re not going to get much as a trade in and if they’ll run inexpensively for the next few years you’ll get more from a junk yard. I once got $4000 from a junk yard for a vehicle with a bad transmission and 400,000 miles on it. It looked brand new. good luck